Platinum price encountered added downward pressure as the stochastic oscillator approached the 50 level. This development prompted a delay in the anticipated bullish surge, leading the price to hover near the support line at 918.00 once again. It is noteworthy that any attempt to solidify below the MA55 could potentially steer the price back into negative territory. As a result, further losses are expected, with potential starting points at 900.00 and 855.00.
Given these considerations, a bearish outlook is recommended for the time being, pending a breach of the 940.00 level, which would signify a shift in favor of bullish sentiment in future trading sessions.
Today’s projected trading range is positioned between 925.00 (resistance) and 900.00 (support).
Today’s Trend Projection: Bearish Temporarily
